DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 Oxford Street
Burnham on Sea
Somerset
TA8 1EF
England and Wales

Principal activity

The principal activity of the company is construction & general building services and property development

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Equipment	- 15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 December 2023	5,000	5,000
At 30 November 2024	5,000	5,000
Depreciation
At 1 December 2023	750	750
Charge for the year	638	638
At 30 November 2024	1,388	1,388
Carrying amount
At 30 November 2024	3,612	3,612
At 30 November 2023	4,250	4,250

5

Debtors

	2024 £	2023 £
Trade debtors	10,002	4,895
Other debtors	201,525	26,359
	211,527	31,254

DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		4,000	-
Trade creditors		10,708	-
Taxation and social security		94,639	13,539
Accruals and deferred income		2,930	650
		112,277	14,189

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		7,333	15,333

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with the director

2024	At 1 December 2023 £	Advances to director £	Repayments by director £	At 30 November 2024 £
Director	5,207	176,817	(37,330)	144,694

2023	At 18 November 2022 £	Advances to director £	At 30 November 2023 £
Director	-	5,207	5,207

DMC Bespoke Building Limited

trading as DMC Bespoke Building Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

8	Related party transactions (continued)

Other transactions with the director

The directors loan account is interest free and repayable on demand. When overdrawn, interest is charged at the official rate of interest.